To run business successfully, enterprises must have a powerful strategy that is based on availability of their resources. All the major decisions are made after analysis of various business data. There are different software for versatile data management. This includes Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human resource Management (HRM), Tally, etc.
Business Intelligence (BI) application brings all data of diverse software at the single platform and provides logical output from them. So, now with BI, it becomes easy to make quick and effective business decisions.
Let’s have brief understanding of business intelligence application and its importance in your business.
What is Business Intelligence (BI)?As per Wikipedia “BI is a set of theories, methodologies, processes, architectures and technologies that transform raw data into meaningful and useful information for business purposes.”
The above definition is technical one while in common man’s words we can say “Business Intelligence is a set of tools that help users to make intelligent decisions from their data.”
Simply, it is a system that offers organized data from unstructured one. BI undertakes various activities like gathering, storing, integrating and analyzing of database. Ultimately, it presents logical output of business information. The analysis helps in driving your business on right track with less possibilities of lose.
How BI Helps Your Business?What makes the difference for a business proprietor? Obviously! It’s profit. Which affects the business earning? That is strategic decisions taken by entrepreneur. BI application development is a blessing to reach at accurate business outcomes with fewer risks. This aids in making right decisions at right time. The components that make BI app essential for business are:
Synergetic Report Generation
BI applications work as per predefined business logic. Thus, it connects various database of different software and generates interactive reports accordingly. You will have an organized outcome of data from integrated software such as CRM, Sales, HRM, ERP, Tally, etc. The application will create a synergetic report as per custom settings of database. Enjoy quick access to a lot business data from one place.
As the report contains analyzed data, it can address your versatile business purposes. Moreover, you are free to set time duration for report generation as per business needs.
Graphical Data Presentation
In comparison to text, graphical presentation of data is easier to understand and explain. BI application generates graphs at dashboard by picking appropriate data from different software. It displays report as per pre-defined business logic set by the enterprise. With BI application, you can have interactive and attractive graphical charts of different information.
BI application integrates various information of versatile database. This helps in creating transparency across all users. With database connection, you can analyze various data by utilizing advanced technology. There is automatic import of data into application and you will have a graphical presentation of analyzed information. And ultimately you can make effective business decisions by using collaborative BI applications.
You can integrate BI application in existing enterprise solutions, business portals, software, etc. So there is no need to spend for new web solution development. It can be developed with different IT technologies like PHP, Java, Ruby, C, etc. The applications are also compatible with almost all browsers and systems.
It happens that business requirements of BI not match with technical development. In such situation, BI application allows user to generate ad-hoc reports to address a single and specific business needs. The non-technical user can build and distribute analyzed data of this report.
The application user can set report dashboard, visualization and analysis by themselves as per custom requisites. Ad-hoc reports of BI application have database source connection with security establishment and all data is visible to end users.
Application users can make predictions about their business. As per the prior defined business logic, BI application can represent logical outcome of gathered database. By using high-end algorithm, entrepreneur can analyze historical data. This will allow you to make prediction about future customer expectation, profitable product development, production analysis, sales improvement, strategic decision making, and much more. It combines all data of different software and displays graphical output at the dashboard of BI application.
Being a strategic planning process, BI application manages various business activities. The activities contain customer profiling, customer profitability, market research, market segmentation, product profitability, statistical analysis, inventory and distribution analysis and much more.
Radix & BI Application Development ServiceAt Radix, you can ask for bespoke BI application development as per your business specific requirements. Our custom-built apps offer various features and functionalities like decision support system, query and reporting, online analytical processing, statistical analysis, forecasting, data mining, etc. For the accurate and logical presentation of data, we offer integration of data charting engines.
Our BI application development procedure undertakes:
1. Requirement Gathering: Client’s business and technical requirement gathering via written or face to face communication.
2. Requirement Analysis: Requirement analysis to find out possible development scope.
3. Scope Identification:Identification of development scope and negotiation for development possibilities.
4. Technical Architecture & Design: Architecture and designing of application as per prior defined scope.
5. Technical Development: Application development as per decided specifications.
6. Application Testing: Once development architecture and designing of the application is finished, we test each BI application to make it bug free.
7. Application Deployment: Once the application is developed, we deploy it at the client server or handover the application to the client.
8. Maintenance & Administration: We offer maintenance and administration of BI application on client demand.
We offer consultancy for BI application development so feel free to come to us. Have a transparent, affordable, effective, customized and solution centric development of BI application with us.